Strengths, Weakness And Swot Analysis Of IKEA

ANSWERS :
1. Describe what is meant by Swot analysis. SWOT stands for ‘Strengths, Weakness, Opportunities and Threats. SWOT is made of two parts: the strengths and weaknesses refer to the internals of a company while the opportunities and threats are external to the company.
IKEA use SWOT method in them strategy plan to manage the work and to achieve the objective of the organization
S.Strengths: IKEA focuses in the internal resources the strengths it 's used as foundation for the organization to develop the work as to be strong brand equity name in the world wide, large market share , democratic design and customer knowledge.
W.Weaknesses: It’s Internal factors, its look on features of the organization, environments, the employs at a disadvantage relative to others in different areas as the quality and weak product development and declining market share.
O.Opportunities: One of the positive impacts of IKEA that it uses materials that its necessary in the production of each items being open with all its stakeholders, Sustainable use of resources and developing social responsibility.
T.Threats: IKEA could cause trouble for the business the threats is external elements in the organization so they look at the social trends, market forces and economic factors.

2. Explain the difference between internal and external factors?

INTERNAL FACTORS – The factors refer to Strength and Weaknesses and it affect the organization without any regard to any aspect outside the